Molson Coors Beverage Company reported a USD 30 million unfavourable impact from Midwest Premium pricing in the third quarter, adding to inflationary pressures across materials, logistics and manufacturing expenses. The brewing company also reported lower-than-expected revenue and reduced its full-year financial outlook, sending its shares down 3.36 per cent in pre-market trading on Thursday. The company reported net sales of USD 2.93 billion for the third quarter, falling short of analysts' expectations of USD 2.94 billion. Revenue declined 1.6 per cent compared with the corresponding period last year, while sales decreased 1.2 per cent on a constant currency basis. The decline was primarily driven by a 3.0 per cent fall in financial volume, partly offset by favourable pricing and sales...
Iran is expanding its domestic aluminium manufacturing capabilities through nanostructured anodising technology, developing specialised aluminium sheets and profiles for applications across aerospace, medical equipment, electronics and automotive industries. The initiative reflects a move towards higher-value aluminium products by improving the metal's surface properties and expanding its potential industrial applications. According to Pars Today, citing Mehr News Agency, an Iranian aluminium complex is using the technology to produce aluminium components with nanostructured ceramic coatings designed to improve resistance to corrosion and wear. The complex is also working on developing specialised aluminium standards and has so far established eight standards in this field. The...
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A00 aluminium ingot price in China has extended decline for the third day in a row to stand at RMB 16,500 per tonne on Monday, December 7, according to the Shanghai Metals Market. The price has decreased by RMB 110 per tonne, slower compared with the decline of RMB 240 per tonne on Friday, December 4. The average prices today are expected to range between RMB 16,480 per tonne and RMB 16,520 per tonne, with spot contract to be traded at a premium price of RMB 80-120 per tonne, down by RMB 10 from the previous day. In Hangzhou, A00 aluminium ingot price has decreased by RMB 180 per tonne to come in at RMB 16,520 per tonne, followed by the fall of RMB 140 per tonne in Wuxi to RMB 16,500 per tonne. In Gongyi, Foshan, and Chongqing, the primary aluminium ingot price has plunged by RMB 120 per...
Aluminium Bahrain (Alba) has inked a Memorandum of Understanding (MoU) with alumina producer Hangzhou Jinjiang Group Co. Ltd (HJJ) for securing Alba’s alumina requirements. Alba’s Chairman of the Board Shaikh Daij bin Salman bin Daij Al Khalifa commented: “This Memorandum of Understanding translates Company’s strategy to have a vertically integrated business model as well as partially hedge against Alumina price volatility and supply constraints. We are also excited to explore more avenues for collaboration with HJJ which will further consolidate Alba’s status as one of the world’s leading aluminium producers.” HJJ is a leading alumina producer with an annual nameplate capacity of 10 million tonnes in China. The MoU will remain in effect for a period of three years. Both entities can...
Three-month LME aluminium closed1.29% higher at US$2,041 per tonne on Friday, 4 December 2020. SMM expects the contract to trade between US$2,010-2,060 per tonne today. As of Friday December 4, LME aluminium cash (bid) price stands at US$ 2027.50per tonne, LME official settlement price stands at US$ 2027.50 per tonne; 3-months bid price stands at US$ 2040 per tonne, 3-months offer price is US$ 2040 per tonne; Dec 21 bid price stands at US$ 2064.50per tonne, and Dec 21 offer price stands at US$ 2064.50 per tonne. The LME aluminium opening stock stood at 1353350 tonnes. Live Warrants totalled 1164525 tonnes, and Cancelled Warrants were 188825 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2035.50per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for...
The largest and the most outstanding aluminium and copper cable manufacturer in Sri Lanka with an international presence, Sierra Cables posted praiseworthy results for the second quarter, registering a positive growth for the company and the economy. As per the company: “Operating in a challenging economic climate, the Group posted revenue of Rs 2.2 billion during the first half of 20/21 with a net profit of Rs 70 million. Company yielded an Rs 87 million net profit during the first half, indicating an 8% year on year growth.” “During the second quarter, the Group posted revenue of Rs 1.5 billion, indicating a considerable growth of 104% over the first quarter, registering a strong streak of resilience and recovery from pandemic related economic conditions.” Fitch Ratings endorses Sierra...
The first bauxite mine of Ivory Coast has resumed its operations; subsequently, it was suspended for months due to election-related violence, as stated by the CEO on 5 th December’20. The mine started its operation previous year in the east-central Moronou region is a centrepiece of Ivory Coast's ambitions to break-off itself towards dependence on agricultural commodities. Bauxite production discontinued in August as violence escalated in the build-up to the 31 st October presidential election. Moumouni Bictogo, CEO, Lagune Exploitation Bongouanou (LEB), referring to workers from Europe, Asia and the United States, said: "Work has resumed, the expatriates have returned." He also added: “Security has been reinforced, adding that the stoppage and problems over the novel coronavirus have...
A time at odds on the environmental aspect of the future of the Alteo alumina plant in Gardanne, the mayors of Bouc-Bel-Air and Gardanne in a joint press release on 5 th December’20 stated that they place their trust in the project to continue the activity of the mining industrialist United mining supply (UMS). “It turns out that the solidity of the UMS file does not suffer from any possible comparison on the financial, industrial, environmental dimensions and in terms of support for employees”, consider the councillors. The mayor of Bouc-Bel-Air, Richard Maillé, also expresses his opinion on the prospective buyer in a joint letter with the mayors of the neighbouring towns of Simiane-Collongue and Cabriès addressed to the receiver that they reaffirm their desire to see the Mange-Garri...
The flag carrier airline of Iceland, Icelandair has for the first time started the work of dismantling a Boeing 757, locally in Iceland. It is TF-FIJ, Boeing 757-200 that will slowly but surely be dismantled. The work is part of reducing the fleet by older 757 and it will be carried out by the company's mechanics in a hangar at the airport at Keflavik. This aircraft was on a verge of large maintenance that was supposed to take place in the first quarter of next 2021, but the economy suggested that a lot of money was saved on rather chopping it up and getting rid of it, rather than taking this main service. The first aircraft that the company itself dismantles is almost 27 years in service, now parts of the aircraft will be delivered to the Icelandic Aviation Museum in Akureyri, while the...
According to a statement by a contactor associated with Tiwai Point Aluminium Smelter, all non-essential services will soon be withdrawn from the Southland plant. The contractor even said, on a condition of anonymity, that the New Zealand Aluminium Smelter staff held a meeting with some suppliers this week to notify the information. The man said the meeting was to discuss the use of existing stocks from suppliers amid the ongoing uncertainty. Another source informed that the services which have no direct impact on the smelter’s functionality would be suspended by the end of 2020. Gore Mayor and Southland Mayor forum chairman Tracy Hicks said that he also heard about the notifications given to contractors. "I can’t say for sure but I have heard ... some notifications [were] given to...
Weihenstephan will launch its range in cans in the United States through importer, Total Beverage Solution in 2021. Weihenstephaner Hefeweissbier and Weihenstephaner Helles will be introduced in cans in January 2021. The cans will offer protection from UV light and oxygen and preserve the taste of Weihenstephaner Hefeweissbier and Helles. “We are thrilled to offer cans for the US market as we continue to evolve as a brand to meet the needs of our consumers and fast-changing US beer market, without sacrificing the quality of our beers. This is a great opportunity for our current and new brand lovers to enjoy Weihenstephan in new venues that might have been restricted before, due to previously only offering glass bottles or draught. We’re excited to launch our Weihenstephaner Helles in the...
SMM aluminium ingot price started the week higher. The price on Monday, 30 November stood at RMB 16770 per tonne, up RMB 440 per tonne from Friday. The price continued to perform higher till Wednesday. Aluminium ingot price ended the week lower at RMB 16610 per tonne on Friday, 4 December 20202020, from RMB 16850 per tonne on Thursday. According to Shanghai Metals Market, primary aluminium ingot inventories continued to decline this week. Social inventories of primary aluminium ingots across eight consumption areas in China, including SHFE warrants, increased 4,000 tonnes to 600,000 tonnes as of December 3. The alumina price in China registered a growth on Tuesday and Wednesday. The price on Wednesday rose RMB4 per tonne from Tuesday. The alumina price is currently hovering at RMB 2292...
Benchmark aluminium price on the London Metal Exchange recorded a hike of 99 per cent during November 30-December 4. LME aluminium cash (bid) price and LME official settlement price started the week on Monday, November 30, at US$ 2014.50 per tonne, soaring by US$ 39.50 per tonne from US$ 1975 per tonne on November 27. On Tuesday, December 1, the prices stood higher at US$ 2045.50 per tonne, which grew further to US$ 2051.50 per tonne on Wednesday, December 2. On Thursday, December 3, both LME aluminium cash (bid) price and LME official settlement price slipped $23.50 per tonne to peg at $2028 per tonne; however, stood almost flat at US$ 2027.50 per tonne to end the week on December 4. 3-months bid price and 3-months offer price stood at US$ 2022.50 per tonne on Monday and grew on Tuesday,...
Vishay Intertechnology, Inc. has launched a new series of low impedance, Automotive Grade miniature aluminium electrolytic capacitors. Aluminium electrolytic capacitors offer high ripple currents up to 3.36 A with high temperature operation to +125 °C. It comes with a long useful life of 6,000 h at 125 °C. Vishay BCcomponents 190 RTL series allows designers to utilize fewer components to save board space. Vishay Intertechnology is one of the world's largest manufacturers of discrete semiconductors (diodes, MOSFETs, and infrared optoelectronics) and passive electronic components (resistors, inductors, and capacitors). The AEC-Q200 qualified devices are available in smaller case sizes, ranging from 10 mm by 12 mm up to 18 mm by 35 mm. “Featuring radial leads and a cylindrical aluminum case...
Anil Agarwal’s Vedanta Aluminium is the largest producer of aluminium in India. The green metal is a sovereign decisive influential commodity and stands second in the list of preferential metals in the world. The characteristics and utility of aluminium prioritize it as a metal of choice and it is adapted for profound usage in key sectors like defence, aerospace, automobile and infrastructure. It plays a key role in the government's visionary initiatives- Make in India, Smart Cities, Power for All, indigenous space programs etc. The aluminium sector delivers opportunities for over 800,000 (approx.) people directly and indirectly and with such advantages, it justifies being considered as a major industry, corresponding to the steel sector. Vedanta's endeavour to enlarge its production of...
At Shanghai Metals Market’s 2020 Nonferrous Metals Industry Chain Annual Conference in Suzhou, Leo Yi, senior analyst at SMM, explained the challenges that new solid waste law posed to China’s aluminium scrap supply and operations at secondary aluminium producers. Yi said the new solid waste law would hike the processing costs of aluminium ash due to insufficiency of qualified processing capacity and greater difficulties in trans-provincial transport of hazardous waste. “But there are several measures for producers to take to tackle the problem, such as building their own aluminium ash treatment capacity, waiting for the commissioning of new technologies and new processing capacities or reducing production to lower aluminium ash output,” Yi suggested. Leo Yi also shared insights on...
Hind Aluminium Industries Limited, a manufacturer of aluminium & alloy conductors and aluminium wire rods for use in power transmission and distribution applications, published its results for the quarter ended September 2020. Hind Aluminium’s sales stood at INR 43.62 crore in the quarter ended September 2020, a decline of 60.29% year-on-year. The company had reported sales of INR109.84 crore during the previous quarter ended September 2019. Net loss came in at INR 4.30 crore in the September quarter as against net loss of INR 0.72 crore during the previous quarter. That was down 497.22% year-on-year. Hind Aluminium Industries Limited is engaged in manufacturing conductors for power transmission and distribution in Dadra & Nagar Haveli, Silvassa (UT), India. The plant also manufactures...
The British metal magnate, Sanjeev Gupta’s ALVANCE Aluminium Duffel has been awarded the VCK Business Excellence Award by the Flemish Centre for Quality. They won the award for their quality roadmap that they have advanced in recent years. The ALVANCE Aluminium Duffel quality story started in 2017 with a cost of poor quality (COPQ) of €10 million. The organisation put together a multidisciplinary team and injected hugely in its quality culture. This year they are heading towards a 50% reduction of COPQ. These efforts are now rewarded with the Business Excellence Award. Dirk Inghels, Director Quality & HSE of ALVANCE Aluminium Duffel said: "Achieving the VCK award is great external recognition for the efforts made by the employees in implementing our quality roadmap. Since 2017 we have...
Aluminium demand in China is expected to decrease by 5.4 per cent in 2020 and rebound by 6 per cent in 2021, said Miles Prosser, Secretary General of the International Aluminium Institute, while speaking to local and international delegates at the Shanghai Metals Market's 2020 Nonferrous Metals Industry Chain Annual Conference in Suzhou. Prosser has analysed that the COVID-19 pandemic would be having a profound impact on global economic activities in the near term, resulting in a decline in aluminium demand. In the medium term, a large number of regions and markets across the globe would be affected, creating a maximum impact on the transportation and construction industries. The pandemic is also likely to affect the recovery cycles of the metals. For instance, the recovery cycle of...
The economy of Singapore ranks as the most open in the world, 3rd least corrupt, most pro-business, with low tax rates and has the third-highest per-capita GDP in the world in terms of purchasing power parity (PPP). However, the trade and industry ministry revised its full-year forecast for Singapore to register an economic contraction of between 5% and 7% in 2020. The sovereign island city-state’s export of aluminium structures during 2018-19 was recorded at 2793 tonnes and the revenue earnings remained at $21.20 million. The export for 2020 has been marked at 5060 tonnes, with earnings to stand at $25.55 million. When the export volume and earnings for 2020 are summed with the existing two years, it denotes 7853 tonnes and $46.75 million respectively. Singapore’s export of aluminium...
